How to structure this partnership
My brother is interested in joining me on a real estate deal but I have a couple questions for the community on the best way to go about structuring the deal.
My brother will be funding roughly 40% of the rehab cost while I fund the other 60%. However, the tricky part is his wife is the real estate agent that is representing us on the deal AND I'll be the one doing a majority of the rehab on the home. He's not handy and doesn't live near the project to assist.
My question is, what is the best way to structure the profit disbursement being I have to do the 3 months of labor? There's an extra layer of complexity being his wife is the agent but an even 50/50 split seems crazy with the additional time/effort/money on my end.
Am I being a selfish a**hole or is there a way that makes sense for all involved.